House for sale in Gelsenkirchen, Germany

Property Description This property is a mixed-use building with 23 apartments and a commercial unit. The building is 7 stories high, has a basement, and a flat roof. The living spaces of the 23 apartments range from 48 to 112 m², totaling 1,730 m². The total usable area is 606 m². Additionally, the building has balconies, terraces, and 13 underground parking spaces. It was built in 1975. The heating is provided by district heating, and hot water is generated by an electric instantaneous water heater. At the time of valuation, most of the apartments were rented out, and not all units could be viewed. Access to the underground garage and delivery to the commercial unit on the ground floor is through another property, which means this use is not contractually guaranteed. Various depreciations have been made, including due to fire damage in the commercial unit. There are indications that no renovation work has been carried out. The land register shows a registered tenancy right to occupy apartments and a mortgage of €750,000 plus 15% annual interest at the time of the procedure on 19.09.2024, which a potential buyer would have to take over in accordance with the legal auction conditions. Price Thoughts: The property is currently listed at €1,690,000 but there is potential to secure a 30% discount on the market value, bringing the price down to €1,183,000. In addition, notary fees and agency commissions are waived. This property offers a unique opportunity for a buyer to acquire a substantial building at a discounted rate. It is important to consider the potential costs and responsibilities associated with the property's current conditions and obligations before making a purchase.